When looking for office space for your tech startup, you need to choose one that fits your particular needs. There is no question that you will need high-speed internet and flexible office configurations may suit the way you work. The office you choose can even act as a recruitment tool to attract top talent. Your choice of office will be a reflection of your brand so you need to choose wisely. Here are some tips to help you make the right choice.
- Type of lease
Location is very important when choosing office space for your tech startup. The office needs to be easily accessible for employees and if it’s in an area with few transport links, this could affect recruitment and employee retention. It should be close to amenities like coffee shops, cafes, and bars for coffee runs, lunches, and socializing after work. If it’s close to other like-minded businesses startups, it could open up networking and even partnership possibilities.
New York, Los Angeles, and Boston are all popular startup locations in the U.S. and Silicon Valley is extremely well-known as California’s hub for tech startups. Getting office space in or near one of these tech hubs has many advantages. Turnkey Office Space offers startup office space in San Francisco, where the community is highly supportive of tech startups, there’s a highly skilled workforce, many investors, and low taxes.
Considering how much space your startup will need is vital as the number of employees you have could change on a monthly basis. A space that’s too big is a waste of money and yet you need to accommodate new employees comfortably. Collaboration is key for creativity, especially for a tech startup and you need to make sure you have enough space to get together and turn ideas into a reality.
Renting an office in a coworking space could be a solution if you’re not sure about how many employees you will need to recruit in the future. Coworking spaces have many advantages, offering the type of flexibility you may need as a tech startup and with many different options to suit your budget.
Depending on the office, landlords may expect you to sign a lease that lasts for a number of years. As your startup is likely to grow, being locked into a lease for a long period of time is not advisable. It is better to go for a short-term lease that works for now so you can move when you need more space.
Another option is to go for a more flexible lease agreement where you can negotiate for expansion rights. One of the ways to secure a shorter, more flexible lease is to consider a coworking space or a sublease. Coworking spaces usually have month-to-month agreements and this can help you to figure out how much space you really need in your growth phase.
The location and size of your office space and market availability will play a role in how much you pay. Staying on budget is important and before you sign a lease, you need to find out exactly what’s included or excluded or you could face hidden fees. Some of the latest office spaces include technologies such as high-speed internet, security systems, and much more. Find out whether internet access, office maintenance, utility bills, etc., are included or excluded.
If your budget is tight and you can’t afford office space in the center of the city, you may find that office space just a few miles from the center is more affordable. There is a temptation to cut costs by looking at the least expensive locations but this may mean long commutes for your team.
Before you start looking for office space, decide which amenities you really need, such as high-speed internet, meeting rooms, or breakout areas. You may need conference rooms equipped with advanced telecommunications and videoconferencing equipment.
Other amenities like a fitness center or shower facilities may be nice to have but they are not essential and can push up the price.
The bottom line
What makes a great office space for another tech startup may not be right for yours. When considering office space, you need to find one that suits your needs and your wants. It should be a place you know you and your employees will be happy and where you can work the way you work best.